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| Certification Vendor: | CIPS |
|---|---|
| Exam Name: | Commercial Negotiation |
| Exam Number: | L4M5 |
| Exam Duration: | 90 minutes |
| Passing Score: | 70% |
| Certificate Validity Period: | No Expiration |
| Real Exam Qty: | 60 |
| Available Languages: | English |
| Exam Format: | Multiple Choice, Objective Response |
| Exam Price: | ยฃ80 |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Sample Questions: | CIPS L4M5 Sample Questions |
| Exam Way: | Online or at a CIPS approved exam center |
| Pre Condition: | Candidates should ideally be working in or have experience of procurement and supply. No formal pre-requisites, but completion of Level 3 or equivalent experience is recommended. |
| Official Syllabus URL: | https://www.cips.org/qualifications/procurement-and-supply-qualifications/ |
>> L4M5 Latest Exam Questions <<
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The Chartered Institute of Procurement and Supply (CIPS) L4M5 certification exam is designed to test the knowledge and skills of professionals in the field of commercial negotiation. Commercial Negotiation certification is recognized globally and is highly respected within the procurement and supply chain industry. L4M5 Exam covers various topics related to commercial negotiations, including negotiation strategies, legal considerations, and communication skills.
NEW QUESTION # 283
Which of the following is the purpose of using stakeholder support level scale?
Answer: B
Explanation:
In order to estimate the gap and the progress towards desired level of support, a stakeholder support scale can be used by the procurement internally. The support level scale measures stakeholder commitment. Current support level for the procurement/negotiation objectives should be gained from engagement with key stakeholders. The following is an example of stakeholder support level scale:
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LO 1, AC 1.1
NEW QUESTION # 284
Which of the following is a true statement regarding macroeconomic factors and their potential impact on negotiations?
Answer: C
Explanation:
'Macroeconomic factors always directly influence the negotiations': This statement is false. For any given negotiation it is not the macroeconomic factor itself that necessarily influences the negotiation but the change or rate of change that factor.
'Changes in macroeconomic factors may affect businesses and individuals differently': This statement is true.
Macroeconomic factors are factors that have general effects on the economy and many businesses may be completely unaffected or affected more or less than others in the same industry by a change in a factor.
'Macroeconomic factors cannot be influenced by anyone's expectation or sentiment': This statement is false.
When it comes to macroeconomic factors another key consideration is expectation regarding what might happen to these factors, or specifically the measures, metrics or percentage rates associated with these factors in the future.
'Expectations on macroeconomic prospect are always correct': This statement is false. Expectations are not always correct.
LO 2, AC 2.2
NEW QUESTION # 285
If the value of the British Pound in other currencies is strong, which of the following is most likely to occur?
Answer: A
Explanation:
Currency exchange rates are determined by macroeconomic factors and demand and supply. In general, countries with stable political and economic systems, a growing economy and a strong rule of law will have stronger and more stable currency than those without these characteristics. In this question, the British Pound is stronger than other currency, which means that buyers who import goods from the UK have to pay higher in their own currencies.
LO 2, AC 2.2
NEW QUESTION # 286
In a commercial negotiation, a procurement professional believe that the larger the order quantity from buyer, the lower the supplier's average costs. Is this assumption true?
Answer: B
Explanation:
In some markets, suppliers experience peaks and troughs in demand and so buyers can increase their leverage through developing an understanding of how busy their vendor are at particular time during the year or business cycle and targetting at quieter period. Similarly, if a buyer can develop an understanding of supplier capacity and to what extent have they covered their fixed cost, they may be able to target suppliers when their average costs are likely to be lowest. Vendor's average costs will be higher at low and high capacity utilisation.
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NEW QUESTION # 287
Sally is negotiating with an oversea supplier on the price and payment period. Her company and the supplying organisation are equal in bargaining power. The supplier says that they are investing in new facilities and machinery so the payment period should not be longer than 30 days. Sally knows that her company often pays the suppliers after 45 days from the delivery, but at the moment the company has positive cash flow and it is able to pay immediately. Which of the following should be Sally's concession plan?
Answer: C
Explanation:
In the scenario, the length of payment period is particularly important to the supplier as they are investing new facilities. Otherwise, the buyer's company has a positive cash flow position and budget is available for a shorter payment terms. So this tradeable (payment period) is important to supplier but it is not a significant problem with the buyer. This tradeable will fall within 'Easy concession to trade' quadrant in the following matrix:
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If the tradeable fall within this quadrant, Sally should shorten the payment period in supplier's favour and try to win as many concessions as possible in return. Asking for a discount may be a reasonable trade-off.
LO 2, AC 2.3
NEW QUESTION # 288
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